ALISO VIEJO, Calif., April 4, 2011 /PRNewswire/ -- XsunX, Inc. (OTC Bulletin Board: XSNX), the developer of hybrid, thin-film photovoltaic (TFPV) solar cell technologies and manufacturing processes, today announced that XsunX is teaming with MAG Industrial Automation Systems (MAG IAS LLC), a recognized leader in industrial manufacturing systems, assembly, and engineering services, www.mag-ias.com, to provide XsunX customers with world-class 24/7 Global Service and Parts support for its CIGSolar™ cell manufacturing lines.
XsunX and MAG have also agreed to work on specific requirements for the "back end" process equipment for the XsunX customers who are requesting to have a complete turnkey solar module assembly line. The XsunX CIGSolar™ system is designed to deliver what is commonly called the "front-end" process where the solar cells are made. MAG will now work with XsunX to provide a module assembly line (or "back end" process equipment) that is capable of assembling the cells into modules for a complete turn-key factory to produce CIGSolar™ modules.
Mr. Joseph Grimes, XsunX's President and COO noted, "As a technology development company, we need to stay focused on our core competency, that of empowering our customers with breakthrough technology that incorporates the best systems and designs to address product market needs, rapid time to market to stay ahead of the competition, and pricing to make solar affordable for our partners and their clients. This teaming with MAG supports that goal and helps to provide our target customer group with confidence that their systems are backed by a proven installation and support infrastructure."
About MAG Industrial Automation Systems
MAG is a leading machine tool and systems company serving the durable-goods industry worldwide with complete manufacturing solutions. They offer a comprehensive line of equipment and technologies including process development, automated assembly, turning, milling, automotive powertrain production, composites processing, maintenance, automation and software, and core components. Key industrial markets served by these technologies include aerospace, automotive and truck, heavy equipment, oil and gas, rail, solar energy, wind turbine production and general machining. With manufacturing and support operations strategically located worldwide, MAG ranks as a leader in the capital equipment market. A growing number of leading international companies are relying on the impressive innovation power of MAG to assure their technological leadership and prepare for future challenges. For more information please visit MAG website at www.mag-ias.com .
XsunX, Inc. is developing and has begun to market a new manufacturing process to produce low cost, high efficiency thin-film Copper Indium Gallium (di) Selenide (CIGS) thin film solar cells. The patent pending system and processing technology, which XsunX calls CIGSolar™, focuses on the mass production of individual thin-film CIGS solar cells that match silicon solar cell dimensions and can be offered as a non-toxic, high-efficiency and lowest-cost alternative to the use of silicon solar cells. The company is offering licenses for the use of the CIGSolar™ process technology, and plans to generate revenue through licensing fees and manufacturing royalties for the use of the CIGSolar™ technology.
For more information please call XsunX at 888-797-4527, or visit the company's website at www.xsunx.com.
Safe Harbor Statement
Matters discussed in this press release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "may," "will," "should," "believes," "expect," "intend," "anticipate," "plan," "estimate" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject to risks and uncertainties that are described in our most recent annual report on Form 10-K under the heading "Risk Factors" and our subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements whether as a result of the receipt of new information, future events, or otherwise.
SOURCE XsunX, Inc.